The 403(b) arena can be full of sales agents pitching high-fee products that serve their interests at the expense of their client's. The solution? Require all investment professionals to take a formal fiduciary pledge in writing to put their client's interests above their own.

What is a financial fiduciary?

I, the undersigned, pledge to exercise my best efforts to always act in good faith and in the best interests of my client, ___________________ , and will act as a fiduciary. I will provide written disclosure, in advance, of any conflicts of interest, which could reasonably compromise the impartiality of my advice. Moreover, in advance, I will disclose any and all fees I will receive as a result of this transaction and I will disclose any and all fees I pay to others for referring this client transaction to me. This pledge covers all services provided.

Signature ______________________________________

Printed Name ______________________________________

Date ______________________________________

Developed by Craig Evans Carnick, a certified financial planner in Colorado Springs, with slight modifications by Tara Siegel Bernard of the New York Times.

Financial Planning Organizations that Require Members to Sign a Fiduciary Pledge